12 Housing Markets Seeing the Biggest Turnarounds

The National Association of Home Builders is debuting a new economic index that highlights metro areas that are seeing the most improvement in their housing markets. The First American Improving Markets Index reveals 12 metro areas that have seen a turnaround for at least six months in three core economic areas — housing permits, employment, and housing prices.

“Despite the challenging conditions in the national economy and housing sector, there are areas throughout the country where we are seeing pockets of improvement,” Bob Nielsen, chairman of NAHB, said in a statement. “We created this new index to shine a light on those housing markets across the country that have stabilized and have begun to show signs of recovery.”

Here are the 12 cities that have seen the biggest improvements, according to NAHB’s new index:

  • Alexandria, LA
  • Anchorage
  • Bangor, ME
  • Bismarck, ND
  • Casper, WY
  • Fairbanks
  • Fayetteville, NC
  • Houma, LA
  • Midland, TX
  • New Orleans
  • Pittsburgh
  • Waco, TX

Source: REALTOR® Magazine Daily News, 091211; Blog distribution provided by Kenneth Bargers and Bargers Solutions, a proud member of Pilkerton Realtors, residential real estate services located in Nashville, Tennessee

LOL Friday! Ole and Lena…

Ole married an attractive woman, Lena, half his age.

After several months, Lena complained that she had never climaxed during sex; and according to her Grandma, all Norwegian farm women are entitled to a climax once in a while.

So, to resolve the problem, they went to see the large-animal Vet since there was no trustworthy doctor anywhere in Mower County . The Vet didn’t have a clue, but he did recall how, during the hot summer, his Mother and Dad, Olga and Sven, would fan a cow that was having any difficulty birthing a calf to cool her down and make her struggles easier.

So, the Vet told them to hire a strong, virile, young man to wave a towel over them while they were having sex. This, the Vet said, would cause the young wife to climax.

So the couple hired a young man from the big city of Minneapolis named Lars to wave a towel over them as the Vet suggested. After many efforts, still no climax.

They went back to the Vet. The Vet said for Lena to change partners and let Lars have sex with her while Ole waved the towel.

They tried it that night and Lena went into wild, screaming, ear-splitting climaxes, one after the other.

When it was over, Ole smugly looked down at Lars and said, “Ya see, city slicker, now DAT’s how ya wave da towel!

Market Comment for Week of September 5, 2011…

MARKET COMMENT  Mortgage bond prices rose last week, which pushed mortgage interest rates lower. Rates started off on a bad note the first portion of the week as equities rallied on hopes of additional Fed stimulus spending and stronger than expected data. Factory orders rose 2.4%, considerably higher than the expected 1.9% increase. Stocks took a roller coaster ride surging and falling hundreds of points throughout the week. The payrolls component of the employment report Friday disappointed estimates and helped rates improve significantly on the week. Despite the extreme volatility, mortgage bonds ended the week better by about 1/2 of a discount point.

The bond market is closed Monday for Labor Day. Trading may be volatile Tuesday following the extended holiday weekend. Equities will continue to factor into trading with the light data this week.

LOOKING AHEAD

• Fed “Beige Book”; Sept. 7; Important. This Fed report details current economic conditions across the US. Signs of weakness may lead to lower rates.
• Weekly Jobless Claims; Sept. 8; Consensus Estimate 405k; Important. An indication of employment. Higher claims may result in lower rates.
• Trade Data; Sept. 8; Consensus Estimate $53b; Important. Affects the value of the dollar. A falling deficit may strengthen the dollar and lead to lower rates.
• Consumer Credit; Sept. 8; Consensus Estimate $15.5b; Low importance. A significantly larger than expected increase may lead to lower mortgage interest rates.

MORTGAGE PROFESSIONALS  Obtaining a mortgage is often a confusing task that can also lead to frustration. The reason for the confusion is due to the fact that mortgage financing is complex. The good news is that this complexity provides consumers with options and choices best suited to fit their needs.

Everyone’s financial position is unique. Some people have large cash reserves that can be used for down payments while others want to get into a home with little or no money down. Credit ratings vary from person to person. In addition, future plans vary. Some people plan on staying in their home for the rest of their lives while others only plan on staying for a few years.

These facts alone make comparing your mortgage to your neighbor’s based on rate alone a flawed endeavor, yet many people attempt to do so. Admittedly, everyone wants a good deal. Keep in mind that comparing rates is just one component of the entire mortgage. Other variables include the term, down payment requirements, income qualifications, credit ratings, reserve requirements, current debt, prepaid points, and many more.

A mortgage professional is able to take all of these variables that are unique to each individual and help a person obtain the mortgage loan that works best for their situation. The service they provide is time consuming and complex. However, the rewards of dealing with a professional carry forward throughout a borrower’s life. Making wise financial decisions today helps to pave the way for a safe and secure future.

Mortgage interest rates currently remain historically favorable. There is much uncertainty about the future of the economy. If the economy recovers and inflation emerges mortgage interest rates may head higher. Taking advantage of mortgage interest rates at these levels is a sure thing. A cautious approach to lock decisions is necessary to protect against the possibility of a future increase in mortgage interest rates.

Source: Todd Kabel, F&M Mortgage; Blog distribution provided by Kenneth Bargers and Bargers Solutions, a proud member of Pilkerton Realtors, residential real estate services located in Nashville, Tennessee

Great Price! Center Hill Lake Home w/20 acres; completely furnished…

LOL Friday! Irish Brothel…

Three Irishmen are sitting in the pub window seat, watching the front door of the brothel across the road. The local Methodist pastor appears, glances around to make sure no one sees, and quickly goes inside.

“Would you look at that!” says the first Irishman. “Didn’t I always say what a bunch of hypocrites they are!”

No sooner are the words out of his mouth than a Rabbi appears at the door, knocks, and quickly goes inside.

“Another one trying to fool everyone with pious preaching and stupid hats!”

They continue drinking their beer roundly condemning the vicar and the rabbi when they see their own Catholic priest knock on the door.

“Ah, now dat’s sad.” says the third Irishman. “One of the girls must have died.”

Market Comment for Week of August 29, 2011…

MARKET COMMENT  Mortgage bond prices fell last week, which pushed mortgage interest rates higher. Rates started off on a bad note Monday as stocks surged higher. This negative movement continued throughout midweek as durable goods orders rose 4%, considerably stronger than the expected 1.9% increase. Stocks took a roller coaster ride and fell a bit Thursday morning, which helped support mortgage rates. Rates rebounded slightly Friday morning as Q2 GDP came in lower than expected. Market participants were looking for indications from Fed Chairman Bernanke late Friday morning that another round of stimulus was on the way but to no avail. Unfortunately mortgage bonds ended the week worse by about 1/2 of a discount point.

The employment report Friday will be the most important event this week.

LOOKING AHEAD

• Personal Income and Outlays; Aug. 29; Consensus Estimate Up 0.1%, Unchanged; Important. A measure of consumers’ ability to spend. Weakness may lead to lower mortgage rates.
• PCE Core Inflation; Aug. 29; Consensus Estimate Up 0.1%; Important. A measure of price increases for all domestic personal consumption. Weaker figure may help rates improve.
• Consumer Confidence; Aug. 30; Consensus Estimate 59; Important. An indication of consumers’ willingness to spend. Weakness may lead to lower mortgage rates.
• ADP Employment; Aug. 31; Consensus Estimate 85k; Important. An indication of employment. Weakness may bring lower rates.
• Factory Orders; Aug. 31; Consensus Estimate Down 0.5%; Important. A measure of manufacturing sector strength. A larger decrease may lead to lower rates.
• Weekly Jobless Claims; Sept. 1; Consensus Estimate 405k; Important. An indication of employment. Higher claims may result in lower rates.
• Revised Q2 Productivity; Sept. 1; Consensus Estimate Down 0.1%; Important. A measure of output per hour. Improvement may lead to lower mortgage rates.
• ISM Index; Sept. 1; Consensus Estimate 50.5; Important. A measure of manufacturer sentiment. A larger decline may lead to lower mortgage rates.
• Employment Friday; Sept. 2; Consensus Estimate 9.1%, Payrolls +80k; Very important. An increase in unemployment or weakness in payrolls may bring lower rates.

WEATHER  The mortgage interest rate markets are subject to an enormous number of factors. Most analysts agree that weather can have an effect on market activity. Although the effects are seldom long lasting, they can be quite significant.

The United States is the world’s largest exporter of corn. Relatively rainy weather across the Midwest portions of the United States can delay the planting of corn. This often causes corn prices to escalate. Sometimes corn farmers plant more acres of corn than analysts expect. Larger corn crops can cause prices to fall. Lower corn prices can carry over to lower food prices for some items. The weather also has the potential to directly alter fuel prices. As we enter the hurricane season, many oil and gas fields in the Gulf along with refineries along coasts are susceptible to damage. If this were to occur, oil prices would almost surely rise sharply. Rising oil prices would do little to help keep inflationary fears in check. The result would most likely be higher rates.

Source: Todd Kabel, F&M Mortgage; Blog distribution by Kenneth Bargers and Bargers Solutions, a proud member of Pilkerton Realtors, residential real estate services located in Nashville, Tennessee

LOL Friday! 2 for 1 today since these are so Korny…

PARACHUTE JUMPING

On the first day of training for parachute jumping, a blonde listened intently to the instructor. He told them to start preparing for landing when they are at 300 feet.

The blonde asked, “How am I supposed to know when I’m at 300 feet?”

“That’s a good question. When you get to 300 feet, you can recognize the faces of people on the ground.”

After pondering his answer, she asked, “What happens if there’s no one there I know?”

PRESUMPTUOUS

Cowboy walks into the bedroom carrying a sheep in his arms and says, “Honey, this is the cow I make love to when you have a headache.”

The wife, laying in the bed reading a book, looks up and says, “If you weren’t such an idiot, you’d know that’s a sheep, not a cow.”

The guy replies, “If you weren’t such a presumptuous bitch, you’d realize I was talking to the sheep.”